November jobs numbers released earlier today came in at less than half of what “all accounts” estimated yesterday.
At 11:33 am, CNN wrote — but not until its second paragraph: “US employers added another 210,000 jobs to the economy in November, far fewer than expected, the Bureau of Labor Statistics reported Friday. It was the smallest number of jobs added to the US economy since December 2020, when the economy actually shed jobs amid a surge in Covid cases.
Economists had expected more than double the number of jobs created in November, forecasting a continuation of the buoyant economic recovery over the past two months ….
What’s worse is that the November jobs tally was completed before the new variant was even identified ….
Eighteen hours earlier, US News & World Report headlined its anticipation: “December’s Jobs Numbers Might Be an Early Christmas Present for the Economy.”
Writer Tim Smart went on to position “the number of jobs created in November” as an “important economic measure in 2021.
By all accounts [emphasis added], it should be a good number with estimates above October’s 531,000 jobs.
This feature, as well as “America added a disappointing 210,000 jobs in November. But the details paint a different picture, by Anneken Tappe for CNN, December 3, 2021.